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China and the United States are bonding over shale energy, reports Naomi Rovnick at the online news site Quartz.

Rovnick writes: "Because the US has a huge amount of untapped shale reserves and leads the world in extraction technology, it may be the on the verge of total energy independence.

"China also has great prospects in shale, with gas reserves that may even be bigger than the US’s and Canada’s combined. But it lacks the expertise to turn its reserves into energy. So Chinese companies are chasing investments (paywall) in America’s shale industry to access technology that can help it turn its reserves into energy.

"Chinese oil giant CNOOC has spent billions investing in shale projects operated by America’s Chesapeake Energy. And more Chinese companies are marshalling cheap loans from Beijing government-backed banks to strike similar partnerships, according to Bloomberg.

"China definitely lacks America’s shale extraction expertise, says Neil Beveridge, a Hong Kong-based analyst at research house Sanford Bernstein. He adds that Chinese companies are pursuing investments in US projects to 'access technology and then apply those technologies to China.'"